REalloys Inc. (NASDAQ: ALOY), a U.S.-based mine-to-magnet rare earth company, announced the pricing of its upsized underwritten public offering of 2,702,702 shares of common stock at $18.50 per share, with gross proceeds expected to be approximately $50 million. The offering, which includes a 30-day option for underwriters to purchase up to an additional 396,963 shares, is set to close on or about March 9, 2026, subject to customary conditions. Clear Street is acting as lead book-running manager, with Needham & Company as joint book-running manager, and Laidlaw & Company (UK) Ltd. and Muriel Siebert & Co. as co-managers.
The company intends to use the net proceeds for working capital and general corporate purposes, which supports its strategy of building a fully integrated North American supply chain for rare earth elements. REalloys' operations span from upstream resource development at its Hoidas Lake asset in Saskatchewan to midstream processing with the Saskatchewan Research Council and downstream manufacturing in Euclid, Ohio, where it produces heavy rare earth metals, alloys, and magnet components for defense, clean-energy, and industrial applications.
The offering is being made under an effective shelf registration statement on Form S-3 (File No. 333-284626) filed with the Securities and Exchange Commission. A preliminary prospectus supplement was filed on March 5, 2026, and a final prospectus supplement will be filed. Copies are available for free on the SEC's website at www.sec.gov via EDGAR, or by contacting Clear Street at ecm@clearstreet.io or Needham & Company at prospectus@needhamco.com.
This capital raise is significant as it provides REalloys with additional resources to scale its rare earth processing capabilities amid growing demand for domestic critical mineral sources. The company's Ohio facility serves federal agencies including the Department of Defense, Department of Energy, and NASA, positioning it to address supply chain vulnerabilities in defense and clean-energy technologies. The upsized offering reflects strong investor interest in rare earth projects that reduce reliance on foreign suppliers.
Forward-looking statements in the press release highlight risks including project development uncertainties, supply-chain reliability, rare earth price fluctuations, and regulatory approvals. The company cautions that actual results may differ materially and undertakes no obligation to update projections except as required by law.
